Company Quick10K Filing
Lakeland Financial
Price44.42 EPS3
Shares26 P/E13
MCap1,146 P/FCF16
Net Debt-137 EBIT167
TEV1,009 TEV/EBIT6
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-09-30 Filed 2020-10-28
10-Q 2020-06-30 Filed 2020-08-05
10-Q 2020-03-31 Filed 2020-04-30
10-K 2019-12-31 Filed 2020-02-24
10-Q 2019-09-30 Filed 2019-11-01
10-Q 2019-06-30 Filed 2019-08-09
10-Q 2019-03-31 Filed 2019-05-03
10-K 2018-12-31 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-11-05
10-Q 2018-06-30 Filed 2018-08-03
10-Q 2018-03-31 Filed 2018-05-07
10-K 2017-12-31 Filed 2018-03-01
10-Q 2017-09-30 Filed 2017-11-07
10-Q 2017-06-30 Filed 2017-08-07
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-01
10-Q 2016-09-30 Filed 2016-11-09
10-Q 2016-06-30 Filed 2016-08-09
10-Q 2016-03-31 Filed 2016-05-10
10-K 2015-12-31 Filed 2016-03-03
10-Q 2015-09-30 Filed 2015-11-09
10-Q 2015-06-30 Filed 2015-08-10
10-Q 2015-03-31 Filed 2015-05-11
10-K 2014-12-31 Filed 2015-03-05
10-Q 2014-09-30 Filed 2014-11-10
10-Q 2014-06-30 Filed 2014-08-11
10-Q 2014-03-31 Filed 2014-05-12
10-K 2013-12-31 Filed 2014-03-03
10-Q 2013-09-30 Filed 2013-11-12
10-Q 2013-06-30 Filed 2013-08-09
10-Q 2013-03-31 Filed 2013-05-10
10-K 2012-12-31 Filed 2013-03-04
10-Q 2012-09-30 Filed 2012-11-07
10-Q 2012-06-30 Filed 2012-08-08
10-Q 2012-03-31 Filed 2012-05-10
10-K 2011-12-31 Filed 2012-03-05
10-Q 2011-09-30 Filed 2011-11-09
10-Q 2011-06-30 Filed 2011-08-09
10-Q 2011-03-31 Filed 2011-05-09
10-K 2010-12-31 Filed 2011-03-07
10-Q 2010-09-30 Filed 2010-11-04
10-Q 2010-06-30 Filed 2010-08-04
10-Q 2010-03-31 Filed 2010-05-05
10-K 2009-12-31 Filed 2010-03-08
8-K 2020-11-19
8-K 2020-10-26
8-K 2020-10-13
8-K 2020-07-27
8-K 2020-07-27
8-K 2020-07-14
8-K 2020-05-05
8-K 2020-04-27
8-K 2020-04-14
8-K 2020-04-14
8-K 2020-03-25
8-K 2020-03-10
8-K 2020-01-27
8-K 2020-01-14
8-K 2019-11-14
8-K 2019-11-04
8-K 2019-10-25
8-K 2019-10-08
8-K 2019-07-25
8-K 2019-07-09
8-K 2019-04-25
8-K 2019-04-09
8-K 2019-04-09
8-K 2019-03-20
8-K 2019-03-14
8-K 2019-01-25
8-K 2019-01-08
8-K 2018-11-27
8-K 2018-10-25
8-K 2018-10-11
8-K 2018-10-09
8-K 2018-07-25
8-K 2018-07-10
8-K 2018-04-25
8-K 2018-04-10
8-K 2018-04-10
8-K 2018-01-25
8-K 2018-01-11
8-K 2018-01-09

LKFN 10Q Quarterly Report

Item 1. Financial Statements
Note 1. Basis of Presentation
Note 2. Securities
Note 3. Loans
Note 4. Allowance for Loan Losses and Credit Quality
Note 5. Borrowings
Note 6. Fair Value Disclosures
Note 7. Offsetting Assets and Liabilities
Note 8. Earnings per Share
Note 9. Accumulated Other Comprehensive Income (Loss)
Note 10. Leases
Note 11. Covid - 19 and Current Economic Conditions
Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3 - Quantitative and Qualitative Disclosures About Market Risk
Item 4 - Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 lkfn-20200930xex31d1.htm
EX-31.2 lkfn-20200930xex31d2.htm
EX-32.1 lkfn-20200930xex32d1.htm
EX-32.2 lkfn-20200930xex32d2.htm

Lakeland Financial Earnings 2020-09-30

Balance SheetIncome StatementCash Flow
5.04.03.02.01.00.02012201420172020
Assets, Equity
0.10.10.10.00.00.02017201720182019
Rev, G Profit, Net Income
0.30.20.1-0.1-0.2-0.32012201420172020
Ops, Inv, Fin

0000721994--12-312020Q3falseP0MP0MP0MP0MP0MP0MP10Y0.050.030.01P0Y0000721994us-gaap:TreasuryStockMember2020-09-300000721994us-gaap:RetainedEarningsMember2020-09-300000721994us-gaap:ParentMember2020-09-300000721994us-gaap:NoncontrollingInterestMember2020-09-300000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-09-300000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-09-300000721994us-gaap:TreasuryStockMember2020-06-300000721994us-gaap:RetainedEarningsMember2020-06-300000721994us-gaap:ParentMember2020-06-300000721994us-gaap:NoncontrollingInterestMember2020-06-300000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-06-300000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-06-300000721994us-gaap:TreasuryStockMember2019-12-310000721994us-gaap:RetainedEarningsMember2019-12-310000721994us-gaap:ParentMember2019-12-310000721994us-gaap:NoncontrollingInterestMember2019-12-310000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-310000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-310000721994us-gaap:TreasuryStockMember2019-09-300000721994us-gaap:RetainedEarningsMember2019-09-300000721994us-gaap:ParentMember2019-09-300000721994us-gaap:NoncontrollingInterestMember2019-09-300000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-09-300000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-09-300000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-09-300000721994us-gaap:TreasuryStockMember2019-06-300000721994us-gaap:RetainedEarningsMember2019-06-300000721994us-gaap:ParentMember2019-06-300000721994us-gaap:NoncontrollingInterestMember2019-06-300000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-06-300000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-06-300000721994us-gaap:TreasuryStockMember2018-12-310000721994us-gaap:RetainedEarningsMember2018-12-310000721994us-gaap:ParentMember2018-12-310000721994us-gaap:NoncontrollingInterestMember2018-12-310000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-12-310000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-12-310000721994srt:CumulativeEffectPeriodOfAdoptionAdjustmentMembersrt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2019-09-300000721994srt:CumulativeEffectPeriodOfAdoptionAdjustmentMembersrt:RestatementAdjustmentMemberus-gaap:ParentMember2019-09-300000721994srt:CumulativeEffectPeriodOfAdoptionAdjustmentMembersrt:RestatementAdjustmentMember2019-09-300000721994lkfn:ImpairedLoansMember2020-07-012020-09-300000721994lkfn:ImpairedLoansMember2020-01-012020-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-07-012019-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-01-012019-09-300000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-07-012020-09-300000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-07-012020-09-300000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-09-300000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-09-300000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-07-012019-09-300000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-07-012019-09-300000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-09-300000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-01-012019-09-300000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-01-012019-09-300000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-09-300000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-300000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-09-300000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:PassMember2020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:DoubtfulMember2020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-300000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-09-300000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-300000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-09-300000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-300000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2020-09-300000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2020-09-300000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2020-09-300000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:PassMember2020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:DoubtfulMember2020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2020-09-300000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2020-09-300000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2020-09-300000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2020-09-300000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-09-300000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2020-09-300000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994lkfn:PayCheckProtectionProgrammeMemberus-gaap:PassMember2020-09-300000721994us-gaap:SubstandardMember2020-09-300000721994us-gaap:SpecialMentionMember2020-09-300000721994us-gaap:PassMember2020-09-300000721994us-gaap:NonperformingFinancingReceivableMember2020-09-300000721994us-gaap:DoubtfulMember2020-09-300000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:PassMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:PassMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:SubstandardMember2019-12-310000721994us-gaap:SpecialMentionMember2019-12-310000721994us-gaap:PassMember2019-12-310000721994us-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:DoubtfulMember2019-12-310000721994us-gaap:LineOfCreditMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994lkfn:NonWorkingCapitalLoansMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994lkfn:LoansSecuredByFarmlandMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-09-300000721994lkfn:LoansForAgriculturalProductionMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-09-300000721994us-gaap:SecondMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-09-300000721994us-gaap:FirstMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:RealEstateLoanMember2020-09-300000721994lkfn:ResidentialConstructionAndLandDevelopmentLoansMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:RealEstateLoanMember2020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:RealEstateLoanMember2020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:RealEstateLoanMember2020-09-300000721994us-gaap:RealEstateLoanMember2020-09-300000721994us-gaap:ConsumerLoanMember2020-09-300000721994us-gaap:CommercialPortfolioSegmentMember2020-09-300000721994lkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-09-300000721994lkfn:OtherConsumerLoansMember2020-09-300000721994lkfn:OtherCommercialLoansMember2020-09-300000721994us-gaap:LineOfCreditMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994us-gaap:SecondMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-12-310000721994us-gaap:FirstMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:RealEstateLoanMember2019-12-310000721994lkfn:ResidentialConstructionAndLandDevelopmentLoansMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:RealEstateLoanMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:RealEstateLoanMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:RealEstateLoanMember2019-12-310000721994us-gaap:RealEstateLoanMember2019-12-310000721994us-gaap:ConsumerLoanMember2019-12-310000721994us-gaap:CommercialPortfolioSegmentMember2019-12-310000721994lkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-12-310000721994lkfn:OtherConsumerLoansMember2019-12-310000721994lkfn:OtherCommercialLoansMember2019-12-310000721994lkfn:ImpairedLoansMember2020-09-300000721994lkfn:CommercialRealEstatesMember2020-09-300000721994us-gaap:ResidentialPortfolioSegmentMember2020-06-300000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2020-06-300000721994lkfn:UnallocatedMember2020-06-300000721994lkfn:TotalCommercialAndIndustrialLoansMember2020-06-300000721994lkfn:OtherConsumerMember2020-06-300000721994lkfn:OtherCommercialMember2020-06-300000721994lkfn:AgriBusinessAndAgriculturalLoansMember2020-06-3000007219942020-06-300000721994us-gaap:ResidentialPortfolioSegmentMember2019-09-300000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2019-09-300000721994lkfn:UnallocatedMember2019-09-300000721994lkfn:TotalCommercialAndIndustrialLoansMember2019-09-300000721994lkfn:OtherConsumerMember2019-09-300000721994lkfn:OtherCommercialMember2019-09-300000721994lkfn:ImpairedLoansMember2019-09-300000721994lkfn:AgriBusinessAndAgriculturalLoansMember2019-09-300000721994us-gaap:ResidentialPortfolioSegmentMember2019-06-300000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2019-06-300000721994lkfn:UnallocatedMember2019-06-300000721994lkfn:TotalCommercialAndIndustrialLoansMember2019-06-300000721994lkfn:OtherConsumerMember2019-06-300000721994lkfn:OtherCommercialMember2019-06-300000721994lkfn:AgriBusinessAndAgriculturalLoansMember2019-06-3000007219942019-06-300000721994us-gaap:ResidentialPortfolioSegmentMember2018-12-310000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2018-12-310000721994lkfn:UnallocatedMember2018-12-310000721994lkfn:TotalCommercialAndIndustrialLoansMember2018-12-310000721994lkfn:OtherConsumerMember2018-12-310000721994lkfn:OtherCommercialMember2018-12-310000721994lkfn:AgriBusinessAndAgriculturalLoansMember2018-12-310000721994us-gaap:RevolvingCreditFacilityMember2019-08-020000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-07-012020-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-07-012019-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-01-012019-09-300000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-07-012020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-07-012020-09-300000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2020-07-012020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-07-012020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-07-012020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-07-012020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-07-012020-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-01-012020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2020-01-012020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-01-012020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-01-012020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-01-012020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-07-012019-09-300000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2019-07-012019-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-07-012019-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-07-012019-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-07-012019-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-07-012019-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-09-300000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-01-012019-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994lkfn:OtherConsumerLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:OtherConsumerLoansMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994lkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-300000721994lkfn:FinancialAsset30To89DaysPastDueMember2020-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:OtherConsumerLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:OtherConsumerLoansMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994us-gaap:FirstMortgageMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:CommercialRealEstateBuildingMember2019-03-310000721994lkfn:CommercialAndIndustrialNonworkingCapitalMember2019-03-310000721994us-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2020-09-300000721994lkfn:UnallocatedMember2020-09-300000721994lkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994lkfn:OtherConsumerMember2020-09-300000721994lkfn:OtherCommercialMember2020-09-300000721994lkfn:AgriBusinessAndAgriculturalLoansMember2020-09-300000721994us-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:UnallocatedMember2019-12-310000721994lkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994lkfn:OtherConsumerMember2019-12-310000721994lkfn:OtherCommercialMember2019-12-310000721994lkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994lkfn:AgribusinessAndAgriculturalMember2020-01-012020-09-300000721994us-gaap:RetainedEarningsMember2020-07-012020-09-300000721994us-gaap:RetainedEarningsMember2020-01-012020-09-300000721994us-gaap:RetainedEarningsMember2019-07-012019-09-300000721994us-gaap:RetainedEarningsMember2019-01-012019-09-300000721994lkfn:FederalHomeLoanBankAdvanceTenYearPutableSixMonthBermudanFixedRateDueMarch42030Memberus-gaap:FederalHomeLoanBankAdvancesMember2020-01-012020-09-300000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:MaximumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:MaximumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:MaximumMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherConsumerLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:MaximumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:MaximumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994lkfn:FederalHomeLoanBankAdvanceTenYearPutableSixMonthBermudanFixedRateDueMarch42030Memberus-gaap:FederalHomeLoanBankAdvancesMember2020-09-300000721994us-gaap:RevolvingCreditFacilityMember2020-09-300000721994lkfn:FederalHomeLoanBankOfIndianapolisNotesOnePointSixOnePercentageDueJanuarySevenTwoThousandTwentyMemberus-gaap:FederalHomeLoanBankAdvancesMember2019-12-310000721994us-gaap:RevolvingCreditFacilityMemberus-gaap:PrimeRateMember2020-01-012020-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-07-012020-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-07-012019-09-300000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-01-012019-09-300000721994us-gaap:CommonStockMember2020-09-300000721994us-gaap:CommonStockMember2020-06-300000721994us-gaap:CommonStockMember2019-12-310000721994us-gaap:CommonStockMember2019-09-300000721994us-gaap:CommonStockMember2019-06-300000721994us-gaap:CommonStockMember2018-12-3100007219942019-09-3000007219942018-12-310000721994lkfn:ImpairedLoansMember2019-07-012019-09-300000721994lkfn:ImpairedLoansMember2019-01-012019-09-300000721994us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMember2020-01-012020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-01-012020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMember2020-01-012020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-01-012019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherConsumerLoansMember2019-01-012019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMember2019-01-012019-12-310000721994us-gaap:TreasuryStockMember2020-07-012020-09-300000721994us-gaap:ParentMember2020-07-012020-09-300000721994us-gaap:CommonStockMember2020-07-012020-09-300000721994us-gaap:TreasuryStockMember2020-01-012020-09-300000721994us-gaap:ParentMember2020-01-012020-09-300000721994us-gaap:CommonStockMember2020-01-012020-09-300000721994us-gaap:TreasuryStockMember2019-07-012019-09-300000721994us-gaap:ParentMember2019-07-012019-09-300000721994us-gaap:CommonStockMember2019-07-012019-09-300000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-07-012019-09-300000721994us-gaap:TreasuryStockMember2019-01-012019-09-300000721994srt:MinimumMemberus-gaap:USTreasurySecuritiesMember2020-01-012020-09-300000721994srt:MinimumMemberus-gaap:USGovernmentAgenciesShorttermDebtSecuritiesMember2020-01-012020-09-300000721994srt:MinimumMemberus-gaap:MunicipalNotesMember2020-01-012020-09-300000721994srt:MaximumMemberus-gaap:USTreasurySecuritiesMember2020-01-012020-09-300000721994srt:MaximumMemberus-gaap:USGovernmentAgenciesShorttermDebtSecuritiesMember2020-01-012020-09-300000721994srt:MaximumMemberus-gaap:MunicipalNotesMember2020-01-012020-09-300000721994us-gaap:CommercialLoanMember2020-01-012020-09-300000721994lkfn:OtherCommercialLoansMember2020-01-012020-09-300000721994us-gaap:CommercialLoanMember2019-01-012019-12-310000721994lkfn:OtherCommercialLoansMember2019-01-012019-12-310000721994us-gaap:LineOfCreditMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994lkfn:NonWorkingCapitalLoansMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994lkfn:LoansSecuredByFarmlandMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-01-012020-09-300000721994lkfn:LoansForAgriculturalProductionMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-01-012020-09-300000721994us-gaap:SecondMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-01-012020-09-300000721994us-gaap:FirstMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-01-012020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:RealEstateLoanMember2020-01-012020-09-300000721994lkfn:ResidentialConstructionAndLandDevelopmentLoansMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-01-012020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:RealEstateLoanMember2020-01-012020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:RealEstateLoanMember2020-01-012020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:RealEstateLoanMember2020-01-012020-09-300000721994us-gaap:RealEstateLoanMember2020-01-012020-09-300000721994us-gaap:CommercialPortfolioSegmentMember2020-01-012020-09-300000721994lkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-01-012020-09-300000721994lkfn:OtherCommercialLoansMember2020-01-012020-09-300000721994us-gaap:LineOfCreditMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-12-310000721994lkfn:NonWorkingCapitalLoansMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-12-310000721994lkfn:LoansSecuredByFarmlandMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-12-310000721994lkfn:LoansForAgriculturalProductionMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-12-310000721994us-gaap:SecondMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-01-012019-12-310000721994us-gaap:FirstMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-01-012019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:RealEstateLoanMember2019-01-012019-12-310000721994lkfn:ResidentialConstructionAndLandDevelopmentLoansMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-01-012019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:RealEstateLoanMember2019-01-012019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:RealEstateLoanMember2019-01-012019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:RealEstateLoanMember2019-01-012019-12-310000721994us-gaap:RealEstateLoanMember2019-01-012019-12-310000721994us-gaap:CommercialPortfolioSegmentMember2019-01-012019-12-310000721994lkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-01-012019-12-310000721994lkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-12-310000721994lkfn:OtherCommercialLoansMember2019-01-012019-12-310000721994lkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-12-3100007219942019-01-012019-12-310000721994srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquipmentMember2020-01-012020-09-300000721994srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberlkfn:MarketableSecuritiesMember2020-01-012020-09-300000721994srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberlkfn:InventoryWorkInProcessMember2020-01-012020-09-300000721994srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberlkfn:InventoryFinishedGoodsMember2020-01-012020-09-300000721994srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberlkfn:FinishedGoodsMember2020-01-012020-09-300000721994srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberlkfn:CommercialRealEstatesMember2020-01-012020-09-300000721994srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EquipmentMember2020-01-012020-09-300000721994srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberlkfn:MarketableSecuritiesMember2020-01-012020-09-300000721994srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberlkfn:InventoryWorkInProcessMember2020-01-012020-09-300000721994srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberlkfn:InventoryFinishedGoodsMember2020-01-012020-09-300000721994srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberlkfn:FinishedGoodsMember2020-01-012020-09-300000721994srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberlkfn:CommercialRealEstatesMember2020-01-012020-09-300000721994lkfn:ModifiedRepaymentTermsMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994lkfn:ModifiedRepaymentTermsMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-01-012020-09-300000721994lkfn:ModifiedRepaymentTermsMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994lkfn:AllModificationMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994lkfn:AllModificationMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-01-012020-09-300000721994lkfn:AllModificationMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994lkfn:ModifiedRepaymentTermsMember2020-01-012020-09-300000721994lkfn:AllModificationMember2020-01-012020-09-300000721994lkfn:ModifiedRepaymentTermsMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-09-300000721994lkfn:AllModificationMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-09-300000721994lkfn:ModifiedRepaymentTermsMember2019-01-012019-09-300000721994lkfn:AllModificationMember2019-01-012019-09-300000721994us-gaap:USStatesAndPoliticalSubdivisionsMember2020-09-300000721994us-gaap:ResidentialMortgageBackedSecuritiesMember2020-09-300000721994us-gaap:CommercialMortgageBackedSecuritiesMember2020-09-300000721994us-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-310000721994us-gaap:ResidentialMortgageBackedSecuritiesMember2019-12-310000721994us-gaap:CommercialMortgageBackedSecuritiesMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-300000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-300000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-300000721994us-gaap:FairValueMeasurementsRecurringMember2020-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000721994us-gaap:FairValueMeasurementsRecurringMember2019-12-310000721994lkfn:AllModificationMember2020-09-300000721994lkfn:AllModificationMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2020-09-300000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-09-300000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2020-09-300000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-09-300000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2020-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-300000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-300000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMember2020-09-300000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherConsumerLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-09-300000721994lkfn:OtherConsumerLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-09-300000721994lkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-09-300000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-09-300000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-09-300000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:OtherConsumerLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994lkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FirstMortgageMember2019-12-310000721994us-gaap:ConsumerLoanMember2020-10-212020-10-210000721994us-gaap:CommercialLoanMember2020-10-212020-10-2100007219942020-10-212020-10-210000721994us-gaap:ConsumerLoanMember2020-07-012020-09-300000721994us-gaap:CommercialLoanMember2020-07-012020-09-300000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-09-300000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-09-300000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2019-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-01-012020-09-300000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-09-300000721994us-gaap:ParentMember2019-01-012019-09-300000721994us-gaap:CommonStockMember2019-01-012019-09-300000721994us-gaap:InterestRateSwapMember2020-09-300000721994us-gaap:InterestRateSwapMember2019-12-310000721994srt:MinimumMember2020-01-012020-09-300000721994us-gaap:ResidentialPortfolioSegmentMember2020-07-012020-09-300000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2020-07-012020-09-300000721994lkfn:UnallocatedMember2020-07-012020-09-300000721994lkfn:TotalCommercialAndIndustrialLoansMember2020-07-012020-09-300000721994lkfn:OtherConsumerMember2020-07-012020-09-300000721994lkfn:OtherCommercialMember2020-07-012020-09-300000721994lkfn:AgriBusinessAndAgriculturalLoansMember2020-07-012020-09-3000007219942020-07-012020-09-300000721994us-gaap:ResidentialPortfolioSegmentMember2020-01-012020-09-300000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2020-01-012020-09-300000721994lkfn:UnallocatedMember2020-01-012020-09-300000721994lkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-09-300000721994lkfn:OtherConsumerMember2020-01-012020-09-300000721994lkfn:OtherCommercialMember2020-01-012020-09-300000721994lkfn:AgriBusinessAndAgriculturalLoansMember2020-01-012020-09-300000721994us-gaap:ResidentialPortfolioSegmentMember2019-07-012019-09-300000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2019-07-012019-09-300000721994lkfn:UnallocatedMember2019-07-012019-09-300000721994lkfn:TotalCommercialAndIndustrialLoansMember2019-07-012019-09-300000721994lkfn:OtherConsumerMember2019-07-012019-09-300000721994lkfn:OtherCommercialMember2019-07-012019-09-300000721994lkfn:AgriBusinessAndAgriculturalLoansMember2019-07-012019-09-3000007219942019-07-012019-09-300000721994us-gaap:ResidentialPortfolioSegmentMember2019-01-012019-09-300000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2019-01-012019-09-300000721994lkfn:UnallocatedMember2019-01-012019-09-300000721994lkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-09-300000721994lkfn:OtherConsumerMember2019-01-012019-09-300000721994lkfn:OtherCommercialMember2019-01-012019-09-300000721994lkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-09-3000007219942019-01-012019-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000721994us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000721994us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000721994us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-3000007219942020-09-300000721994us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000721994us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-3100007219942019-12-3100007219942020-10-2700007219942020-01-012020-09-30xbrli:sharesiso4217:USDxbrli:purelkfn:borrowerlkfn:loanlkfn:subsidiaryiso4217:USDxbrli:shareslkfn:item

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to _____________

Commission File Number: 0-11487

LAKELAND FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Indiana

35-1559596

(State or Other Jurisdiction

(IRS Employer

of Incorporation or Organization)

 

Identification No.)

202 East Center Street,

Warsaw, Indiana

46580

(Address of principal executive offices)

(Zip Code)

(574) 2676144

(Registrant’s Telephone Number, Including Area Code)

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, No par value

LKFN

The Nasdaq Stock Market LLC

(Nasdaq Global Select Market)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes    No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of ‘‘large accelerated filer,’’ ‘‘accelerated filer,’’ ‘‘smaller reporting company,’’ and ‘‘emerging growth company’’ in Rule 12b–2 of the Exchange Act.

Large accelerated filer    Accelerated filer    Non-accelerated filer

Smaller reporting company     Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

Number of shares of common stock outstanding at October 27, 2020:  25,713,408

Table of Contents

TABLE OF CONTENTS

Page

PART I. FINANCIAL INFORMATION

Item 1.

Financial Statements

Consolidated Balance Sheets — September 30, 2020 and December 31, 2019

1

Consolidated Statements of Income — three months and nine months ended September 30, 2020 and 2019

2

Consolidated Statements of Comprehensive Income — three months and nine months ended September 30, 2020 and 2019

3

Consolidated Statements of Changes in Stockholders’ Equity — three months and nine months ended September 30, 2020 and 2019

4

Consolidated Statements of Cash Flows — nine months ended September 30, 2020 and 2019

6

Notes to the Consolidated Financial Statements

7

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

37

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

60

Item 4.

Controls and Procedures

60

PART II. OTHER INFORMATION

Item 1.

Legal Proceedings

61

Item 1A.

Risk Factors

61

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

63

Item 3.

Defaults Upon Senior Securities

63

Item 4.

Mine Safety Disclosures

63

Item 5.

Other Information

63

Item 6.

Exhibits

64

SIGNATURES

65

Table of Contents

ITEM 1. FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEETS (in thousands, except share data)

September 30, 

December 31, 

    

2020

    

2019

(Unaudited)

ASSETS

 

  

 

  

 

Cash and due from banks

$

69,106

$

68,605

Short-term investments

 

59,975

 

30,776

Total cash and cash equivalents

 

129,081

 

99,381

Securities available-for-sale (carried at fair value)

 

644,034

 

608,233

Real estate mortgage loans held-for-sale

 

10,097

 

4,527

Loans, net of allowance for loan losses of $60,747 and $50,652

 

4,529,177

 

4,015,176

Land, premises and equipment, net

 

60,309

 

60,365

Bank owned life insurance

 

84,919

 

83,848

Federal Reserve and Federal Home Loan Bank stock

 

13,772

 

13,772

Accrued interest receivable

 

18,447

 

15,391

Goodwill

 

4,970

 

4,970

Other assets

 

56,302

 

41,082

Total assets

$

5,551,108

$

4,946,745

LIABILITIES

 

  

 

  

Noninterest bearing deposits

$

1,420,853

$

983,307

Interest bearing deposits

 

3,347,101

 

3,150,512

Total deposits

 

4,767,954

 

4,133,819

Borrowings

 

 

Federal Home Loan Bank advances

 

75,000

 

170,000

Miscellaneous borrowings

10,500

0

Total borrowings

 

85,500

170,000

Accrued interest payable

 

6,303

 

11,604

Other liabilities

 

54,512

 

33,222

Total liabilities

 

4,914,269

 

4,348,645

STOCKHOLDERS’ EQUITY

 

  

 

  

Common stock: 90,000,000 shares authorized, no par value 25,708,915 shares issued and 25,236,371 outstanding as of September 30, 2020 25,623,016 shares issued and 25,444,275 outstanding as of December 31, 2019

114,011

114,858

Retained earnings

 

512,041

 

475,247

Accumulated other comprehensive income

 

25,224

 

12,059

Treasury stock at cost (472,544 shares as of September 30, 2020, 178,741 shares as of December 31, 2019)

 

(14,526)

 

(4,153)

Total stockholders’ equity

 

636,750

 

598,011

Noncontrolling interest

 

89

 

89

Total equity

 

636,839

 

598,100

Total liabilities and equity

$

5,551,108

$

4,946,745

The accompanying notes are an integral part of these consolidated financial statements.

1

Table of Contents

CONSOLIDATED STATEMENTS OF INCOME (unaudited - in thousands, except share and per share data)

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

    

2020

    

2019

    

2020

    

2019

NET INTEREST INCOME

 

  

 

  

 

  

 

  

 

Interest and fees on loans

 

  

 

  

 

  

 

  

 

Taxable

$

42,056

$

50,139

$

130,759

$

149,094

Tax exempt

 

104

234

542

720

Interest and dividends on securities

 

Taxable

 

1,577

2,209

5,419

6,956

Tax exempt

 

2,198

1,819

6,237

5,171

Other interest income

44

368

292

957

Total interest income

 

45,979

54,769

143,249

162,898

Interest on deposits

 

5,941

14,692

24,324

44,131

Interest on borrowings

 

Short-term

 

51

113

458

1,295

Long-term

 

74

419

172

1,307

Total interest expense

 

6,066

15,224

24,954

46,733

NET INTEREST INCOME

 

39,913

39,545

118,295

116,165

Provision for loan losses

 

1,750

1,000

13,850

2,985

NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES

 

38,163

38,545

104,445

113,180

NONINTEREST INCOME

 

  

 

  

 

  

 

  

Wealth advisory fees

 

1,930

1,736

5,594

5,002

Investment brokerage fees

 

421

386

1,148

1,300

Service charges on deposit accounts

 

2,491

3,654

7,452

12,791

Loan and service fees